In recent times we have seen a noticeable upturn in the number of lawyers expressing an interest in relocating offshore, and for a good reason. Although firms are taking a much more cautious approach to recruitment after the repercussions of Covid-19, many offshore firms have reacted quickly to the pandemic and are still very much open for business and on the lookout for talented lawyers.
Therefore, if you are unfamiliar with the draws of working offshore, here are my top 5…
1. A Slower Pace of Life
The most obvious but greatest benefit to relocating offshore is by the far the welcomed change of scenery from the big smoke. You will experience a much slower pace of life and enjoy a fantastic work-life balance. The best thing of all, the busy and often stressful commute to and from the office is eliminated, giving you more time to relax and enjoy your surroundings, take up a new hobby such as diving or even raise a family. Bermuda, the British Virgin Islands, the Channel Islands and the Cayman Islands all have good quality schools, promote a heightened sense of outdoor living and boast island-wide family- friendly cultures.
2. A New Challenge
It is a common misconception that when you work as a lawyer offshore you do not receive the same high quality of work as you do in the city. This is certainly not the case and does not replicate the feedback we have had from lawyers we have placed offshore, including James Murrie a Senior Associate in a top tier firm in the Cayman Islands. You can read more about his move here.
Lawyers I have had discussions with recently in the Cayman Islands claim to be facing many new challenges, with the investments funds industry especially busy amidst the pandemic. Due to this, offshore firms have a high threshold for whom they chose to hire.
3. Travel Opportunities
Sometimes, travel plans are put on hold as you get caught up with work or perhaps tasing a family in the city. Relocating offshore allows you to both work and explore new places that would usually be out of reach without a long trip from Europe or Australia. For instance, from Cayman you can take a short 1-hour flight to Cuba and experience the colourful capital Havana, from Bermuda you can quickly get to the Bahamas, New York, Florida and Miami and from the BVI you can spend the weekend exploring the rain forest in Puerto Rico.
4. You Keep Your Income
With little or no income tax in most offshore locations, relocating will present a good opportunity to earn and save a considerable amount of money for future plans. You can also, of course, splash out and enjoy the plush golf clubs, up-market restaurants and beachfront holiday villas.
5. Individual Development
Making the move offshore is a big step, leaving friends and family and setting up life in an unfamiliar country is ambitious. However, with challenge comes great opportunity and a big move like this reaps big rewards. You can expect to face new challenges due to complex legal systems, gain invaluable partner time and have the opportunity to learn and work with talented lawyers qualified across multiple jurisdictions. More importantly, you will grow as an individual in the process and stand out to top tier firms in the city. That is, if you ever wish to return to the hustle and bustle.
If you are a mid-level lawyer and are interested in making the move offshore, download the latest version of our Offshore Market & Salary Guide here.
“The best way to predict the future is to create it”
– A Lincoln
